WESCO International Q4 Profit Doubles, Guides 2014 EPS Below View - Quick Facts

(RTTNews) - WESCO International, Inc. (WCC) reported that its fourth-quarter net income attributable to company more than doubled to $58.0 million or $1.09 per share from $26.5 million or $0.52 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $67.0 million or $1.26 per share, compared to $54.6 million or $1.06 per share in the year-ago quarter

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $1.31 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 14.3 percent to $1.88 billion from $1.64 billion in the same quarter last year. Analysts expected revenues of $1.91 billion for the quarter. Excluding acquisitions and foreign exchange impact, normalized organic sales growth was only 1.5 percent.

Looking ahead to fiscal 2014, the company expects earnings in a range of $5.30 to $5.70 per share, on projected sales growth of 3 to 6 percent.

Street is currently looking for full-year 2014 earnings of $5.96 per share on annual sales of $7.97 billion.